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2.—(1) The Education (Student Loans) (Repayment) Regulations 2009(1) are amended as follows.
(2) In the table in regulation 20B(3), after the row for the period “1st March 2023 to 31st May 2023”, insert—
| “1st June 2023 to 31st August 2023 | 7.1%”. |
(3) In regulation 33(3)(b) and (d)(ii), omit “or postgraduate degree loan”.
(4) In regulation 74A—
(a)in paragraph (1), after “formula” insert “in paragraph (2) or (2A) (as the case may be)”;
(b)in paragraph (2), after “formula” insert “applicable to a plan 2 or 5 loan”;
(c)after paragraph (2), insert—
“(2A) The formula applicable to a plan 3 loan is—
(d)in paragraph (3), for “formula” substitute “formulae in paragraphs (2) and (2A)”;
(e)after paragraph (3), after “Example” insert “(using the formula applicable to plan 2 or 5 loans)”.
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